Home Depot retreats in weak retail sector

Shares of the home-improvement giant
HD, -0.26%
traded down 4.9% at $36.43 playing off the preliminary results of its Dutch Tender offer. Home Depot announced that it expects to purchase about 289.6 million shares, or about 14.6%, of the shares outstanding.

The shares were tendered at a price of $37, or a total of about $10.7 billion, excluding fees and expenses, Home Depot said. The tender price was at the low end of the company's target price range of $37 to $42 a share. The price range for the tender had originally been $39 to $44 a share.

Cowen & Co. upgraded American Eagle Outfitters
AEO, -0.14%
to outperform from neutral, citing expectations that its shares will outperform the market by at least 15% over the next 12 months, and robust August sales. Shares rose slightly to $25.84.

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